Canadians add 2 per cent to household debt

By Steve RandallFont size :

A new report from Equifax shows a 2.0 per cent rise in Canada’s household debt in the second quarter. The total reached $1.568 trillion equating to $21,164 per person with a credit file, excluding mortgages. Auto loans were one of the drivers of the growth, up 3.9 per cent in the second quarter; however the overall pace of growth was lower, having been 2.7 per cent in the first quarter of 2015.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate